Joey Yap is a feng shui master and author of over 30 best-selling books on Chinese metaphysics.

More and more Malaysians - especially the younger generation - are turning entrepreneurial in their bid for financial freedom. Four young Malaysians who have made it big in vastly different industries share with TAN CHOE CHOE the key to their success.

The number of new businesses registered with the Companies Commission of Malaysia went up by 16 per cent - from 268,866 in 2008 to a substantial 312, 581 last year, despite a contraction in the economy.

One of the most oft-quoted reasons for an increase in the number of entrepreneurs is the success stories of others.

"There are legends like Tan Sri Robert Kuok, Datuk Tony Fernandes and others locally. Abroad, there is Microsoft's Bill Gates. In China, there are many youths turning millionaires and billionaires too. They are a source of inspiration for others," said the president of the Small Medium Industries Association of Malaysia, Chua Tiam Wee.

"The spate of financial crises in recent years, particularly the last one which left a trail of retrenchments, has also prompted many to feel that being an employee is no longer the safest or best career option. Naturally, people start to think: why not be your own boss and master of your own destiny?" adds Chua.

The prospect of working in a conventional nine-to-five job is no longer deemed "cool".

"Waking up early to go to work is no longer appealing. Our youngsters want flexibility. They want to innovate and create."

But while there are many inspiring success stories, there are also as many stories of failed ventures.

"Anyone who decides to go into business must realise that entrepreneurship is actually a 'profession' where you will be wearing many hats. You need to be skilled not only in managing the marketing side of the business but also the finances. You have to know what to do and what you can do before you decide to go into business," says Carol Yip, a personal financial coach and author of two books on financial planning -- Money Rules and Smart Money-User.

"Be alert and aware of what's going on around the world. Even something simple, if done well, can turn into a mega business," adds Yap.

Joey Yap, 33, feng shui consultant

HE earned his first million when he was 26-years-old. Since then, Joey Yap, who will turn 33 in July, has only been earning more.

Besides being the founder of the Master Academy of Chinese Metaphysics -- the first such global organisation devoted to the teaching of feng shui, Bazi, and other such similar subjects -- he is the chief consultant of Yap Global Consulting, which specialises in feng shui and Chinese astrology services and audits.

He has also authored over 30 books, and hosts his own TV series -- all on the subject of Chinese metaphysics.

He attributes his success to having differentiated himself in the industry right from the start.

"I'm not a fortune-teller. I don't tell people how their life is going to turn out. That's making statements and anyone can do that. I seek to help people understand their profile, their talents, and advise them on what to focus on and how, based on their individual strengths and weaknesses and to maximise their potential."

His client list includes not just individuals but also local and multinational conglomerates.

To be good at what he does, he reads a lot. "Not only books on metaphysics, but also business, management and more. Many consultants try to advise people without even a basic understanding of the fundamentals of business, like go and hang some red cloth somewhere and your business will succeed. How is that going to help a businessman solve his problems?"

His own experience in managing a business has also lent him an extra edge.

"The biggest obstacle I faced was a lack of experience when I first started out. I didn't know anything apart from accounting. Many people think that when your feng shui is good, everything will work out. That's not true. You still have to acquire the skills, the technical know-how to handle your business and make it successful."

Articulate, and able to command an audience of 3,000 or more, it is hard to imagine that Yap was once nervous when speaking to less than 10 people. "Just like the other skills, public speaking was something I had to acquire."

What drives him? "When I first started out, I thought this industry had been sorely misunderstood and misrepresented in many ways. I had a burning desire to rectify this. I'd like to believe that I have."

Success, to him, is not about money. It is about being remembered for one's deeds.

"When we leave this world, people will remember us for what we contributed to society."